Reg; 5 yrs. notional service

[tarsem ladhar]

Respected Parthasarathy sreedharan and others, Thank you very much for giving your valuable information on the subject.You have cleared number of doubts of the  VRS 2000-01 pensioners. There is another aspect to be looked into, Pension Regulation no.26 also confers five years eligibility for additon to qualifying service for superannuation pension to  those specialists officers, like Engineers, Chartered accountants,Law officers and Agricultural officers and SC/ST candidates who were given age relaxation at the time of their recruitment. Please put the light on it and clear the doubts, whether such officer are eligible for 5 yrs. benefit under this regulation no.26 extension to pension regulation no 29 (5) even if it goes beyond the date of superannuation.In other words, can a bank extend the qualifying service beyond the date of superannuation under this regulation no.26? For example, will a officer under this catagory having  left over service for four years or due to his date of birth at the time  of  his retirement (maximum service 33 yrs.) get 5 yrs. benefit under these both Pension regulations as far as the hon'ble Supreme Court judgement is concerened ?.   Tarsem  Ladhar

[Parthasarathy Sridharan]

   Dear Tarsem Ladhar,

   As far as my knowledge and my understanding of the original pension scheme goes, the age relaxation is given only at the time of recruitment to both officers and employees. This age relaxation is not being given in some banks for promotion also. These specialist officers are considered for promotion as like any other general category officers except for some small relaxations upto certain scales.. Since the age for retirement under normal circumstances is fixed 60, the qualifying service for pension depends on the age at which the employee or officer joins the bank.  Hence the eligiblity for additional 5 years of notional service would be subject to the condition of completing the minimum required service of 20 years, as per the original pension scheme. This clause was not implemented in some banks in total to SVRS  2000/2001 retirees; in some banks they applied this clause to the eligible retirees under 20 years of qualifying service and upgraded their basic pension after SC verdict.. Further,there are many working employees/officers, who joined during 1970-74, would have completed more than 35/31 years of continous service. However, the total qualifying service for full pension would be reckoned at 33 years only. Hence it is clear, no bank can extend the maximum qualifying years of service beyond 33 years  in any case. In other words, if an employee or officer completes 28 years of continuous service, then they are eligible for full pension.(28+5). Hope this clarifies your doubt. 

Sridharan

--
You received this message because you are subscribed to the Google Groups "bankpensioner" group.
To post to this group, send an email to bankpe...@googlegroups.com.
To unsubscribe from this group, send email to bankpensione...@googlegroups.com.
For more options, visit this group at http://groups.google.com/group/bankpensioner?hl=en-GB.

[tarsem ladhar]

Respected parthasarathy Sridharan ji and others, Thank you very much for your prompt reply in the matter.Actually the circulars issued by the IOB Retiree association and  AIBOC regarding pension regulation no.26,(as per attachments) have stated  five years additional qualifying service for superannuation to those officers to whome the age relaxation was given at the time of their recruitment.There is a doubt in my mind whether this extention  of service can go beyond the date of superannuation or not under this regulation.I request all the knowledgable group members to kindly put a light on this aspect to clear the doubts. With Regards, Tarsem  Ladhar       Sr. manager  (Retd.) --- On Sun, 12/12/10, Parthasarathy Sridharan <para...@gmail.com> wrote:

[Parthasarathy Sridharan]

  Dear  Tarsem Ladhar ji,

  Is the circular issued by IOB Retiree Association is meant for such officers only and not for 

  the award staffs who retired under the same category?  In that case any employee, be it an 

  officer or clerk or sub staff, who were benefitted by the relaxation at the time of recruitment, are 

  also eligible for the said additional qualifying service at the time of  superannuation. When one 

  benefit is given at the time of recriument to all categories, the same cannot be denied to the other 

  lower categories at the time of superannuation. Is not logical and unbaised? Since the pension  

  scheme is common to all categories, the qualifying service would depend on the age at the time of  

  recruitment and the remaining years of service (taking into consideration the employee continuing 

  his entire service with one institution) in his category of appointment.   

  Sridharan